2018 Outlook  Step change in sales  Deliver major LI start-ups 2017 with improved 2018  Continue to focus on growth & performance operational excellence  Airgas synergies ahead  Pursue business transformation; of plan leverage the Airgas model  Moving forward with  While investing for the future NEOS “Assuming a comparable environment, Air Liquide is confident in its ability to deliver net profit growth in 2018, calculated at constant (1) exchange rate and excluding 2017 exceptionals .” (1) exceptional non-cash items having a net positive impact on 2017 net profit 30 15 February 2018 Full Year 2017 Results The world leader in gases, technologies and services for Industry and Health